Daily Insider: Hain (+Williams) give Bain & Co real pain – banned for 3 years by UK

START YOUR MORNING BY LISTENING TO TODAY’S BIZNEWS BREAKFAST BRIEFING PODCAST – Bain gets real SA-related pain with a 3 year UK ban; Markets fret as Pelosi teases China; ‘Generation Moonshot’ investors

(If you’re struggling to access BBB via Spotify or iTunes, an audio-only version is also available on the BizNewsTV channel on YouTube). 

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Hain (+ Williams) give Bain real pain – banned for 3 years by UK

Proof that one person really can make a difference is this morning’s news that the American consultancy Bain & Co has been banned from all UK government business for three years. 

SA-born former UK cabinet minister Peter Hain has been on a campaign against Bain because of the firm’s destructive involvement in SA State Capture. The Zondo Commission confirmed that Bain facilitated the hollowing-out of the country’s once world class tax collection service (SARS). It conspired replace more than 100 highly skilled SARS managers, including the CEO, with compromised Zuma lackeys.

Hain and whistle-blower Athol Williams – the former Bain exec who was forced to flee SA because of spilling the beans – recently met with British Cabinet Office minister Jacob Rees-Mogg. The FT reports this morning the UK minister yesterday informed Bain that it is no longer welcome in the country’s public sector.

Ironically, Bain’s business in South Africa is booming. The firm has secured enough fresh business from both the public sector and corporates to expand into new offices. Eisch. Roll on 2024.

* NB – If you’re looking for the perfect seaside pad/retirement spot, join me next Wednesday (10th) at noon when I’ll host an interactive webinar on the new development inside St Francis Links. I’ve visited and was mightily impressed. The webinar is open to all, but you do need to register beforehand – click here to sign up. 

WATCH: Dr Michael Louis – founder of the Independent Candidate Association (ICA) – is ringing the warning bell that the electoral bill, as it stands, is deeply flawed and unconstitutional. In a wide-ranging interview with BizNews, Louis explains the genesis of the June 2020 Constitutional Court ruling and how the Bill of Rights – which gives any individual the right to stand for public office – is at odds with our electoral act stating anyone contesting elections must belong to a political party. The ConCourt ordered parliament to remedy the legislation within 24 months but that deadline expired in June 2022. An extension until 10 December this year was granted. Louis is adamant that this is a “one in a lifetime opportunity” to effect meaningful electoral change but feet-dragging by Parliament has the potential to thrust the country into crisis ahead of the 2024 national election. An election, he believes, in which independent candidates will have a critical role to play in the unfolding coalition nature of national governance.


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